Real Estate filp question,

[Liquid2000]

Ive been watching flip this house on a&e for the past few weeks, and it looks simple enough to try. My question is do you need a license to do this or can i just start a company and get to flipping? any advice,websites and info i should be reading will be a great help!

 

[deputy dawg]

Do a search within this business & networking category for prior threads on R.E.

SERIOUSLY, there is a WEALTH of info already covering this topic that can give you a good ides if this is for you and how to get started.

Then come back here and comment on what you learned.

 

[Liquid2000]

LMAO. Thanks for the advice. I didn't find what i was looking for here so I went online and found this site. http://www.reiclub.com/ They answered all my questions. Thanks again.

 

[Real1]

Liquid,


To answer your questions about Rehabs (Investor's don't really call "rehabs" a "flip")


1. No, rehabing is not simple...by any means. I don't think new investors should pick a rehab as a first deal unless they have a partner/mentor that has a VESTED interest in the deal going well. Working with contractors is never, never, never easy.


2. You don't need a RE liscense to invest in real estate. You will utilize the services of realtor for listing your property (flat fee or full commission listing) or for pulling comps (sales comparables) on a property that you are selling or buying.


Generally, if you have to take possesion of house (actually go to closing on it) and/or have to spend money on rehabbing it, it's not called a flip. To make matters even more confusing, H.U.D, the general public, and real estate investors all have a different definition of flipping. HUD's definition of flipping is illegal...and it should be...it involves fraud and working in concert with appraisers and loan officers to commit fraud.


The show should be called "Rehab this House"